Alexco Provides Full 2020 Exploration Results and Operations/Corporate Update
2020 Exploration Results Highlights
The 2020 surface exploration program completed 7,653 m of core drilling in 14 holes as detailed in Table 1. The program focused on a 550 m long structurally controlled sub-horizontal elongated zone in the same structural and stratigraphic setting that contains the high-grade mineralization initially discovered in 2018 below the
Significant results are reported below:
(note that intercepts below are on sections located approximately 100 m apart and are listed from southwest to northeast along the zone (see Figure 2)).
- K-20-0769 intersected mineralization in both the Bermingham Footwall and Main veins:
- The Footwall vein extends over a true width of 8.76 m from 507.24 m containing 3,583 grams / tonne ("g/t") (115.2 ounces / tonne ("oz/t")) silver ("Ag"), including 4.54 m true width from 507.70 m at 5,497 g/t (176.73 oz/t) Ag and 1.64 m true width from 516.60 m at 3,834 g/t (123.28 oz/t) Ag. These include several very high-grade intervals including 0.41 m true width from 509.81 m at 15,174 g/t (487.84 oz/t) Ag, 0.28 m true width from 512.42 m at 21,994 g/t (707.12 oz/t) Ag, and 0.24 m true width from 517.45 m at 23,906 g/t (768.60 oz/t) Ag.
- The Main vein extends over a true width of 3.50 m from 473.86 m containing 707 g/t (22.72 oz/t) Ag, including 0.93 m true width from 476.72 m at 2,337 g/t (75.14 oz/t) Ag.
- K-20-0773 intersected the Footwall vein over a true width of 5.30 m from 496.24 m containing 2,070 g/t (66.55 oz/t) Ag, including 2.35 m true width from 499.31 m at 4,425 g/t (142.27 oz/t) Ag.
- K-19-0740* (previously reported on
September 10, 2019 ) intersected several mineralized veins in this zone including: - 8.15 m true width from 580.09 m containing 1,414 g/t (45.46 oz/t) Ag, including 0.59 m true width from 590.82 m at 10,105 g/t (324.88 oz/t) Ag.
- K-20-0761 intersected mineralization in both the Bermingham Footwall and Main veins:
- The Footwall vein extends over a true width of 6.12 m from 536.84 m containing 1,560 g/t (50.16 oz/t) Ag, including 2.72 m true width from 539.71 m at 3,381 g/t (108.71 oz/t) Ag.
- The Main vein extends over a true width of 1.30 m from 486.65 m containing 4,889 g/t (157.19 oz/t) Ag, including 0.71 m true width from 486.65 m at 8,810 g/t (283.25 oz/t) Ag, including 0.45 m true width from 486.92 m at 11,286 g/t (362.85 oz/t) Ag.
- K-20-0770 intersected mineralization in the Bermingham Footwall vein:
- The Footwall vein extends over a true width of 7.46 m from 559.06 m containing 1,381 g/t (44.40 oz/t) Ag, including 0.39 m true width from 563.67 m at 4,180 g/t (134.39 oz/t) Ag, and 0.24 m true width from 566.34 m at 9,800 g/t (315.08 oz/t) Ag.
- A Footwall splay extends over a true width of 2.28 m from 552.49 m containing 693 g/t (22.27 oz/t) Ag, including 0.42 m true width from 554.28 m at 1,987 g/t (63.88 oz/t) Ag.
- K-20-0762 intersected the Footwall vein over a true width of 1.87 m from 643.75 m containing 893 g/t (28.71 oz/t) Ag, including 0.79 m true width from 643.75 m at 2,058 g/t (66.16 oz/t) Ag.
* Results from the 2020 drilling program and the previously reported hole K-19-0740 from the 2019 program used a 30 g/t Ag composite cutoff to include a maximum of two meters of unmineralized internal dilution. Hole locations are shown in Figure 1 and results detailed in Table 2 with all intervals adjusted to reflect estimated true width.
2020 Program Summary and Bermingham Geology
The
The 2020 drill program was designed to assess the Northeast Deep zone in more detail, with a nominal drill grid spacing of approximately 100 m along strike by 50 m dip separation, and holes from surface ranging in depth between 550 m and 700 m (refer to Table 1, Figure 1, and Figure 2).
From a geological perspective, the 2020 target zone was interpreted to lie in the vicinity of the intersection of the Bermingham Main vein with the Bermingham Footwall vein (see Figure 2), and specifically where the intersection occurs within the thick bedded quartzites that host the nearby historic Hector-
On a broader scale, it is now clear that the
Note:
The 2020 exploration drill program and sampling protocol has been reviewed, verified, and compiled by Alexco's geologic staff under the supervision of
2021 Surface Exploration Drilling Program
In
Keno Hill Operations Update
Ramp up of mining and milling operations continue with activities adjusted and moderated to comply with modified COVID-19 protocols in the
Sale of Brewery Creek Net Smelter Return Royalty ("NSR Royalty")
On
References
Cathro, R.J., 2006. Great Mining Camps of
Qualified Persons
The disclosure in this news release of scientific and technical information regarding exploration projects on Alexco's mineral properties has been reviewed and approved by
About Alexco
Alexco is a Canadian primary silver company that owns and operates the majority of the historic
Some statements ("forward-looking statements") in this news release contain forward-looking information plans related to Alexco's business and other matters that may occur in the future, made as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to risks and uncertainties relating to the COVID-19 pandemic including but not limited to business closures, travel restrictions, quarantines and a general reduction in consumer activity; actual results and timing of exploration and development, mining, environmental services and remediation and reclamation activities; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineral resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions; competition; and delays in obtaining governmental approvals or financing or in the completion of development activities. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this news release, Alexco has applied several material assumptions, including, but not limited to the circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize or at least not worsen; that the extent to which COVID-19 may impact the Company, including without limitation disruptions to the mobility of Company personnel, costs associated with implementation of health and safety protocols, increased labour and transportation costs, and other related impacts, will not change in a materially adverse manner; Alexco will be able to raise additional capital as necessary, that the proposed exploration and development activities will proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Alexco expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
APPENDICES
Table 1 – Location of 2020 Drill Holes
Coordinates in UTM NAD 83 Zone 8 map projection
Hole | UTM East (m) | UTM North (m) | Elevation (m) | Length (m) | Surface Azimuth | Surface Inclination |
K-20-0760 | 479729.31 | 7086976.72 | 1372.32 | 671.95 | 300.0 | -65.0 |
K-20-0761 | 479729.54 | 7086976.57 | 1372.42 | 701.71 | 300.0 | -69.5 |
K-20-0762 | 479891.52 | 7087079.15 | 1376.47 | 703.00 | 285.0 | -63.0 |
K-20-0764* | 479730.29 | 7086976.53 | 1372.43 | 194.00 | 295.0 | -74.5 |
K-20-0765 | 479730.20 | 7086976.83 | 1372.40 | 607.00 | 305.0 | -71.5 |
K-20-0766* | 479891.26 | 7087079.18 | 1376.75 | 220.50 | 285.0 | -60.0 |
K-20-0767 | 479891.32 | 7087079.21 | 1376.40 | 693.00 | 285.0 | -57.0 |
K-20-0768 | 479483.84 | 7086723.28 | 1369.42 | 557.10 | 320.0 | -63.0 |
K-20-0769 | 479483.84 | 7086723.26 | 1369.42 | 587.00 | 315.0 | -65.5 |
K-20-0770 | 479891.12 | 7087079.39 | 1376.46 | 607.00 | 280.0 | -60.0 |
K-20-0772 | 479939.38 | 7087127.75 | 1376.70 | 653.00 | 280.0 | -64.0 |
K-20-0773 | 479563.06 | 7086887.64 | 1364.77 | 577.10 | 280.0 | -72.5 |
K-20-0774* | 479939.13 | 7087128.11 | 1376.61 | 191.00 | 285.0 | -61.0 |
K-20-0775 | 479939.12 | 7087127.97 | 1376.59 | 692.00 | 283.0 | -62.0 |
* | Hole abandoned due to deviation |
Table 2 – Composite Assays Calculated at +30 g/t Ag with up to 2 m of waste
Hole | From (m) | To (m) | Interval (m) | Est. TW (m) | Au (g/t) | Ag (g/t) | Ag (oz/t) | Pb | Zn | Vein | |
K-20-0760 | 499.30 | 501.75 | 2.45 | 1.96 | 0.08 | 185 | 5.95 | 0.33 | 0.54 | FW | |
Including | 499.30 | 500.00 | 0.70 | 0.56 | 0.09 | 353 | 11.35 | 0.36 | 1.79 | FW | |
505.43 | 510.07 | 4.64 | 3.71 | 0.13 | 100 | 3.22 | 0.19 | 0.76 | FW | ||
Including | 509.06 | 509.77 | 0.71 | 0.57 | 0.07 | 368 | 11.83 | 0.43 | 4.18 | FW | |
620.88 | 621.65 | 0.77 | 0.63 | 0.01 | 309 | 9.93 | 6.00 | 0.06 | Ruby | ||
630.56 | 631.38 | 0.82 | 0.67 | 0.04 | 158 | 5.08 | 3.71 | 0.00 | Ruby splay | ||
K-20-0761 | 486.65 | 488.00 | 1.35 | 1.30 | 0.53 | 4,889 | 157.19 | 7.27 | 2.06 | BM | |
Including | 486.65 | 487.39 | 0.74 | 0.71 | 0.93 | 8,810 | 283.25 | 12.98 | 3.54 | BM | |
with | 486.92 | 487.39 | 0.47 | 0.45 | 1.23 | 11,286 | 362.85 | 14.40 | 2.23 | BM | |
536.84 | 545.00 | 8.16 | 6.12 | 0.29 | 1,560 | 50.16 | 1.62 | 1.31 | FW | ||
Including | 539.71 | 543.34 | 3.63 | 2.72 | 0.60 | 3,381 | 108.71 | 3.43 | 2.42 | FW | |
554.32 | 557.20 | 2.88 | 2.16 | 0.03 | 195 | 6.27 | 1.13 | 0.67 | FW splay | ||
560.55 | 561.43 | 0.88 | 0.66 | 0.08 | 57 | 1.82 | 0.10 | 0.16 | FW splay | ||
K-20-0762 | 528.61 | 529.54 | 0.93 | 0.90 | 0.03 | 31 | 0.98 | 0.32 | 0.37 | BM | |
643.75 | 646.12 | 2.37 | 1.87 | 0.14 | 893 | 28.71 | 4.50 | 2.09 | FW | ||
Including | 643.75 | 644.75 | 1.00 | 0.79 | 0.31 | 2,058 | 66.16 | 9.71 | 3.68 | FW | |
K-20-0765 | 580.69 | 581.45 | 0.76 | 0.46 | 0.00 | 36 | 1.14 | 0.30 | 0.58 | FW | |
K-20-0767 | 520.37 | 521.32 | 0.95 | 0.94 | 0.04 | 92 | 2.96 | 1.04 | 0.96 | BM | |
526.26 | 529.59 | 3.33 | 3.30 | 0.12 | 218 | 7.01 | 3.29 | 1.54 | BM | ||
Including | 526.26 | 527.24 | 0.98 | 0.97 | 0.32 | 516 | 16.59 | 7.38 | 3.44 | BM | |
539.40 | 541.62 | 2.22 | 1.75 | 0.11 | 236 | 7.58 | 0.32 | 0.01 | FW | ||
Including | 539.40 | 540.30 | 0.90 | 0.71 | 0.10 | 376 | 12.09 | 0.37 | 0.02 | FW | |
548.69 | 549.11 | 0.42 | 0.33 | 0.17 | 30 | 0.97 | 0.06 | 0.24 | FW splay | ||
673.75 | 677.29 | 3.54 | 3.47 | 0.02 | 82 | 2.64 | 0.89 | 0.26 | Townsite | ||
K-20-0768 | 314.15 | 314.87 | 0.72 | 0.56 | 0.09 | 69 | 2.23 | 0.17 | 0.28 | Aho (splay) | |
475.65 | 476.55 | 0.90 | 0.79 | 0.26 | 771 | 24.78 | 5.37 | 6.27 | BM | ||
including | 476.13 | 476.55 | 0.42 | 0.37 | 0.43 | 1,605 | 51.60 | 11.05 | 5.41 | BM | |
483.02 | 487.55 | 4.53 | 3.99 | 0.09 | 184 | 5.92 | 0.15 | 0.23 | BM splay | ||
including | 484.24 | 484.65 | 0.41 | 0.36 | 0.21 | 1,470 | 47.26 | 0.81 | 0.01 | BM splay | |
490.30 | 491.00 | 0.70 | 0.62 | 0.11 | 168 | 5.40 | 0.39 | 0.00 | BM splay | ||
493.10 | 497.50 | 4.40 | 3.48 | 0.12 | 321 | 10.31 | 0.33 | 4.90 | FW | ||
Including | 495.75 | 497.50 | 1.75 | 1.38 | 0.09 | 636 | 20.46 | 0.09 | 8.38 | FW | |
K-20-0769 | 473.86 | 477.75 | 3.89 | 3.50 | 0.45 | 707 | 22.72 | 2.28 | 0.72 | BM | |
Including | 476.72 | 477.75 | 1.03 | 0.93 | 0.53 | 2,337 | 75.14 | 6.19 | 0.73 | BM | |
484.63 | 485.57 | 0.94 | 0.85 | 0.04 | 403 | 12.95 | 0.11 | 0.92 | BM | ||
Including | 484.63 | 485.00 | 0.37 | 0.33 | 0.09 | 956 | 30.74 | 0.07 | 2.01 | BM | |
497.69 | 497.95 | 0.26 | 0.23 | 0.03 | 705 | 22.67 | 8.91 | 0.00 | BM | ||
507.24 | 518.76 | 11.52 | 8.76 | 0.46 | 3,583 | 115.20 | 13.71 | 3.45 | FW | ||
Including | 507.70 | 513.67 | 5.97 | 4.54 | 0.64 | 5,497 | 176.73 | 26.12 | 6.19 | FW | |
with | 509.81 | 510.35 | 0.54 | 0.41 | 1.67 | 15,174 | 487.84 | 77.58 | 0.87 | FW | |
with | 512.42 | 512.79 | 0.37 | 0.28 | 2.73 | 21,994 | 707.12 | 43.93 | 9.43 | FW | |
Including | 516.60 | 518.76 | 2.16 | 1.64 | 0.64 | 3,834 | 123.28 | 0.67 | 0.10 | FW | |
with | 517.45 | 517.76 | 0.31 | 0.24 | 3.88 | 23,906 | 768.60 | 3.74 | 0.26 | FW | |
K-20-0770 | 525.12 | 526.31 | 1.19 | 1.18 | 0.10 | 174 | 5.59 | 2.88 | 2.37 | BM | |
Including | 525.48 | 525.68 | 0.20 | 0.20 | 0.23 | 735 | 23.63 | 13.00 | 9.13 | BM | |
552.49 | 555.11 | 2.62 | 2.28 | 0.18 | 693 | 22.27 | 0.78 | 1.18 | FW splay | ||
Including | 554.28 | 555.11 | 0.83 | 0.72 | 0.42 | 1,987 | 63.88 | 2.42 | 3.36 | FW splay | |
with | 554.50 | 555.11 | 0.61 | 0.53 | 0.40 | 2,570 | 82.63 | 3.27 | 2.55 | FW splay | |
559.06 | 567.63 | 8.57 | 7.46 | 0.13 | 1,381 | 44.40 | 2.23 | 1.37 | FW | ||
Including | 563.67 | 567.63 | 3.96 | 3.45 | 0.23 | 1,626 | 52.28 | 2.12 | 0.82 | FW | |
with | 563.67 | 564.12 | 0.45 | 0.39 | 0.94 | 4,180 | 134.39 | 6.45 | 3.18 | FW | |
with | 566.34 | 566.62 | 0.28 | 0.24 | 0.77 | 9,800 | 315.08 | 9.14 | 5.25 | FW | |
569.73 | 571.45 | 1.72 | 1.50 | 0.07 | 60 | 1.93 | 0.38 | 1.92 | FW splay | ||
574.79 | 575.83 | 1.04 | 0.90 | 0.04 | 67 | 2.16 | 1.28 | 1.20 | FW splay | ||
K-20-0772 | 623.36 | 624.03 | 0.67 | 0.62 | 0.09 | 198 | 6.37 | 1.41 | 0.42 | Townsite splay | |
627.24 | 627.70 | 0.46 | 0.42 | 0.09 | 714 | 22.96 | 0.80 | 0.04 | Townsite splay | ||
K-20-0773 | 479.68 | 482.00 | 2.32 | 2.02 | 0.09 | 119 | 3.82 | 1.70 | 0.96 | BM | |
496.24 | 504.15 | 7.91 | 5.30 | 0.22 | 2,070 | 66.55 | 27.10 | 0.52 | FW | ||
Including | 498.64 | 503.22 | 4.58 | 3.07 | 0.36 | 3,528 | 113.43 | 35.73 | 0.76 | FW | |
with | 499.31 | 502.82 | 3.51 | 2.35 | 0.44 | 4,425 | 142.27 | 45.29 | 0.82 | FW | |
554.98 | 555.97 | 0.99 | 0.87 | 0.25 | 33 | 1.06 | 0.10 | 0.19 | Bear splay | ||
K-20-0775 | 536.67 | 536.98 | 0.31 | 0.30 | 0.07 | 321 | 10.32 | 2.76 | 11.60 | BM | |
609.43 | 609.65 | 0.22 | 0.20 | 0.11 | 286 | 9.20 | 2.69 | 0.13 | Townsite splay |
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